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Re: Forgery, bills, and the Four Horsemen (Articles and Comment)
Black Unicorn posted a very interesting info summary on the
subject of foreign state US$$ forgery.
This is a story I heard, long ago, from a Brit, Mr Waterlow,
about something that happened to his grandfather, chairman
of the Waterlow bank:
Early in this century Portugal didn't print it's own money but
contracted this job to the Waterlow Bank in England. Some
skilled conmen succeeded in making the bank beleive they were
representatives of the Portugeese National Bank. Then they
ordered a huge amount of new bills and got away (at least
for some time) with it.
Now, the point is that this was acually GOOD for the Portugeese
ecomomy, the real National Bankers having underestimated the
optimal size of their cash stock.
So, I wonder, perhaps the world economy might benefit from
some Iranian addings to the number of $$ araound?
A Keynesian boost?
Just drifting (I know very little about economy...).